Bank of America Corp DE Buys 290,661 Shares of Calix, Inc $CALX

Key Points

• Bank of America increased its Calix stake by 63.3%, purchasing 290,661 additional shares to own 750,117 shares valued at approximately $36.7 million. Institutional investors collectively own 98.14% of Calix.
• Calix reported quarterly earnings of $0.47 per share, beating estimates of $0.40, while revenue rose 21.3% year over year to $293.33 million. The company also authorized a $100 million share buyback, covering up to 3% of outstanding shares.
• Calix shares opened at $39.58, well below their 52-week high of $71.22. Analysts maintain a “Moderate Buy” consensus with an average price target of $63.86, despite several recent target reductions.

Bank of America Corp DE increased its holdings in shares of Calix, Inc (NYSE:CALX - Free Report) by 63.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 750,117 shares of the communications equipment provider's stock after purchasing an additional 290,661 shares during the quarter. Bank of America Corp DE owned 1.18% of Calix worth $36,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of Calix by 1.0% in the fourth quarter. State Street Corp now owns 2,362,965 shares of the communications equipment provider's stock worth $125,072,000 after purchasing an additional 23,022 shares in the last quarter. Geode Capital Management LLC increased its stake in Calix by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 1,445,338 shares of the communications equipment provider's stock worth $76,513,000 after acquiring an additional 74,235 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Calix by 4.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,409,729 shares of the communications equipment provider's stock worth $86,515,000 after acquiring an additional 61,247 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Calix by 214.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider's stock valued at $78,212,000 after acquiring an additional 868,987 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Calix by 28.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,218,495 shares of the communications equipment provider's stock valued at $59,699,000 after acquiring an additional 269,876 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Stock Down 0.7%

CALX stock opened at $39.58 on Friday. Calix, Inc has a 52 week low of $34.26 and a 52 week high of $71.22. The firm has a 50-day simple moving average of $37.86 and a 200-day simple moving average of $44.25. The stock has a market capitalization of $2.49 billion, a P/E ratio of 53.48 and a beta of 1.24.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. The firm had revenue of $293.33 million for the quarter, compared to analysts' expectations of $289.96 million. Calix had a net margin of 4.61% and a return on equity of 6.17%. The company's revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. On average, analysts expect that Calix, Inc will post 0.89 earnings per share for the current year.

Calix declared that its Board of Directors has approved a share buyback program on Tuesday, April 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Insider Activity

In other Calix news, Director Carl Russo sold 75,000 shares of the firm's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $36.20, for a total value of $2,715,000.00. Following the sale, the director directly owned 1,569,188 shares in the company, valued at $56,804,605.60. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.44% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on CALX. Rosenblatt Securities decreased their price target on shares of Calix from $70.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, July 21st. Needham & Company LLC decreased their price target on shares of Calix from $70.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Roth Capital reiterated a "buy" rating on shares of Calix in a research note on Tuesday, July 21st. Northland Securities raised shares of Calix from a "market perform" rating to an "outperform" rating and set a $52.00 price objective on the stock in a report on Tuesday, July 21st. Finally, Weiss Ratings downgraded Calix from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $63.86.

Calix Profile

Calix, Inc is a provider of cloud and software platforms, systems, and services that enable broadband service providers to transform their networks and subscriber experiences. The company's flagship Calix Cloud platform delivers real-time analytics, automation and intelligence designed to simplify network operations, improve service agility and drive revenue growth. Calix also offers a comprehensive suite of premises and access systems, including broadband access nodes, fiber-to-the-home optics and residential gateways under the GigaSpire brand.

Through its software-defined network architecture, Calix helps service providers virtualize key network functions and introduce new services with minimal capital expenditure.

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